Money Printer Goes Brrr: Fraud, Confidence, And The Impact of Role of Stablecoins in Crypto

A stablecoin is a digital currency using blockchain for book-keeping. Still, its monetary policy depends on another fiat currency, whether USD, EUR, or precious metal such as Gold. Stablecoin is filling this gap by providing constant value storage (in terms of fiat currency), plus the convenience of digital payment without the hassles of traditional financial institutions. As of May 2021, the total stablecoin supply surpassed the $100B mark. The value of Bitcoin as a new medium of exchange, paradoxically, makes Bitcoin undesirable.